Black Book announces its latest innovation called Bullseye Prospecting, a comprehensive, all-in-one solution designed to help dealers and their marketing agency partners automate customer campaigns. During initial tests Bullseye Prospecting was found to deliver a 30 percent reduction in cost per car sold.

Powered by data from Black Book, Bullseye Prospecting is designed to reduce and consolidate the many different touch points involved in the development and execution of a customer campaign. Dealers and their marketing partners often work with several different vendors, all who add to the overall cost of production after markups are taken into effect. Bullseye Prospecting seamlessly leverages economies of scale for data coming from DMS, consumer, incentives, and vehicle equity and valuation sources. The program also leverages partnerships with photo and printer vendors for direct marketing collateral.

“With Bullseye Prospecting, dealers and their marketing agencies can leverage true economies of scale by pulling from either template campaigns or custom builds if they choose,” said Jared Kalfus, Senior Vice President of Sales for Black Book. “Bullseye Prospecting is designed to level the playing field for dealers of all sizes and geographies, with the power to drastically reduce costs and improve the bottom line.”

Dealers and their marketing partners need to re-evaluate the way in which customer campaigns are developed and managed in order to lower their total costs. Dealer profits are shrinking, mainly due to tightening margins on the sale of new and used vehicles. According to Henderson, Hutcherson and McCullough’s (HHM) recent auto dealer economic outlook, the gross profit margin for dealers fell from 13.5 percent down to 13.3 percent. The report also stated that the average new vehicle gross profit fell from $1,204 down to $1,193. Gross margins also declined from 3.81 percent down to 3.68 percent.

Conversely, campaign costs remain high for dealers. According to research firm, Statista, the average-size dealership (selling between 150-399 cars annually) spends approximately $616 on advertising per each new car sold. This number increases as dealer size shrinks. The firm points out that dealerships selling between 1-149 cars annually are faced with a per-car advertising spend of $862.

To schedule a demo of Bullseye Prospecting, visit BullseyeProspecting.com.

Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto.